The internal rate of return method is used by Royston Construction Co, in analyzing a capital expenditure proposal that involves an investment of $60, 656 and annual net cash flows of $16,000 for each of the 5 years of its useful life. Drachnt Ualue of aw Annulbu af et st Pamanued takese. a. Determine a present value factor for an annulty of s1, which can be used in determining the intemal rate of return, if required, round your answer to three decimal places. b. Using the factor determined in part (0) and the present value of an annalty of $1 table above, determine the internal rate af return for the proposal